As Agent Bank, please be advised of the following rate determined            on: 01-Dec-2008
 Issue                             � Auburn Securities 3 plc - Class M
                                   GBP 26,200,000.00 Mortgage Backed FRN Due 01-Nov-2039
 ISIN Number                       � XS0157588723
 Common Code / 144A ISIN           � 15758872
 Issue Nomin GBP                   � 26,200,000.00
 Period                            � 01-Dec-2008 to 02-Jan-2009              Payment Date 02-Jan-2009
 Number of Days                    � 32
 Rate                              � 4.60125
 Denomination GBP                  � 10,000.00             �                                    �
                                                                                                     
 Amount Payable per Denomination   � 40.34                 �                                    �
                                                                                                     
 Bank of New York
 Rate Fix Desk                                             Telephone         � 44 1202 689580
 Corporate Trust Services                                  Facsimile         � 44 1202 689601
    
    


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